This glass is half empty.
Champagne shipments from France have fallen for the second year in a row, as consumers become more conscious of their wallets and the global situation puts people in a generally moody mood. This is revealed in a new report from the Champagne industry association.
Sales in 2024 fell by nearly 10% to 271 million bottles, according to the Champagne Committee, which represents around 320 Champagne houses and 16,000 wine producers.
The downward pressure on bottle-breaking celebrations comes as we live in a world characterized by “inflation, conflicts around the world, economic uncertainty and a political wait-and-see attitude in some of Champagne's biggest markets.” This may be due to the turbulent times in which we are currently living, the commission said. Maxime Toubard, Co-President of Champagne, said: CNN.
He said today's grim global mood was “no time to celebrate”, with similar effects in the Champagne capital of France, where sales fell 7% to 118 million bottles. “The domestic market is still suffering,” he added. “The dark political and economic background prevailing,” she said.
LVMH, the world's top champagne producer that owns luxury sparkling brands such as Dom Pérignon, Krug and Veuve Clicquot, said it was one of the first signs of a coming economic slowdown, with sales expected to decline by 15% in the first half of 2024. decreased.
“Champagne is very associated with things like celebration and happiness,” Jean-Jacques Guiony, LVMH's chief financial officer, said during a recent earnings call, the paper writes.
“Perhaps the current world situation, be it geopolitical or macroeconomic, doesn't encourage people to cheer up and pop some champagne.”
